NEC Plans to Use Stock Swaps
For Mergers and Acquisitions

Nishigaki Takes New Approach,
With Focus on Financial Tactics

By

Peter Landers and

Michael Williams Staff Reporters of The Wall Street Journal

Updated July 7, 2000 12:01 a.m. ET

TOKYO -- NEC Corp. is hoping to sell shares in several of its U.S. subsidiaries, as part of a larger strategy at the Japanese electronics giant of using U.S.-style financial tactics to boost its stock price.

President Koji Nishigaki said NEC wants to list its systems-integration subsidiaries in the U.S., including DCM Solutions Inc. of Irving, Texas, and Canopy International Inc. of Boston. He also said NEC's research labs are working on several projects that could be developed into separate companies, spun off and listed....